Corsair Gaming, Inc. (NASDAQ:CRSR) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Corsair Gaming, Inc. (NASDAQ:CRSR) has received a consensus recommendation of "Moderate Buy" from six rating firms, with an average twelve-month target price of $9.83.
• The company's recent earnings report showed a revenue of $320.11 million, surpassing analysts' expectations and reflecting a 22.5% increase year-over-year.
• Institutional investors hold 25.66% of Corsair Gaming's stock, with recent stakes purchased by notable hedge funds in the last quarter.

Corsair Gaming, Inc. (NASDAQ:CRSR - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $9.8333.

Several research firms recently weighed in on CRSR. Wall Street Zen upgraded shares of Corsair Gaming from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price objective on shares of Corsair Gaming in a research note on Monday, May 5th. Barclays upgraded Corsair Gaming to a "strong-buy" rating in a report on Friday, August 8th. Robert W. Baird set a $10.00 price target on Corsair Gaming in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group lowered their price objective on Corsair Gaming from $11.00 to $8.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Corsair Gaming by 5.0% in the 1st quarter. Vanguard Group Inc. now owns 6,101,154 shares of the company's stock worth $54,056,000 after buying an additional 287,795 shares during the last quarter. Palisade Capital Management LP lifted its stake in Corsair Gaming by 3.5% in the first quarter. Palisade Capital Management LP now owns 2,416,490 shares of the company's stock worth $21,410,000 after acquiring an additional 81,376 shares during the period. Sunriver Management LLC purchased a new stake in Corsair Gaming in the first quarter worth $16,733,000. Geode Capital Management LLC boosted its holdings in Corsair Gaming by 5.2% in the second quarter. Geode Capital Management LLC now owns 1,231,456 shares of the company's stock valued at $11,614,000 after acquiring an additional 61,075 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its position in Corsair Gaming by 302.3% during the 1st quarter. Alyeska Investment Group L.P. now owns 914,879 shares of the company's stock valued at $8,106,000 after purchasing an additional 687,477 shares during the period. Hedge funds and other institutional investors own 25.66% of the company's stock.

Corsair Gaming Price Performance

NASDAQ:CRSR traded down $0.02 during trading hours on Friday, hitting $9.28. The stock had a trading volume of 125,588 shares, compared to its average volume of 888,905. The company has a 50 day simple moving average of $9.31 and a two-hundred day simple moving average of $9.09. The firm has a market capitalization of $984.05 million, a price-to-earnings ratio of -11.46 and a beta of 1.77. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.45 and a quick ratio of 0.75. Corsair Gaming has a one year low of $5.59 and a one year high of $13.02.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $320.11 million during the quarter, compared to analysts' expectations of $312.38 million. Corsair Gaming had a negative return on equity of 3.12% and a negative net margin of 6.00%. The firm's revenue was up 22.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. Research analysts forecast that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

Corsair Gaming Company Profile

Corsair Gaming, Inc, together with its subsidiaries, designs, develops, markets, and sells gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. It offers gamer and creator peripherals, including gaming keyboards, mice, headsets, controllers, and streaming products, such as capture cards, stream decks, microphones and audio interfaces, facecam streaming cameras, studio accessories, gaming furniture, and other related products.